A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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A retail property in Melbourne’s Brighton has sold for $1.45 million in an off-market transaction, on a record yield of 1.6% yield.
The <a href="https://www.domain.com.au/property-profile/165-martin-street-brighton-vic-3186" target="_blank">165 Martin Street</a> property was formerly the home of the iconic Gardenvale Collectables, which specialised in historic VFL/AFL and sports memorabilia, and is now occupied by Laser &amp; Lashes. 
The selling agent was Fitzroys’ Mark Talbot, who recently sold the property next door as well. 
The property at 167 Martin Street sold for $1.55 million on a yield of 2.2%.
The 165 Martin Street property is located in the strip’s popular retail and hospitality precinct between Nepean Highway and Gardenvale train station.
“Martin Street is a thriving retail village surrounded by specialty retail and hospitality options, situated in one of the Melbourne’s most prestigious suburbs, and has significant potential for investors and owner occupiers,” Talbot said, adding the buyer didn’t want to pass up on the opportunity to secure a site in one of Melbourne’s most tightly held retail strips. 
“The precinct is surrounded by an established residential community that is slated for further population growth, and has a number of top-class education facilities nearby.” 
He said the large volume of enquiry for 167 Martin Street was able to be successfully converted into another record-breaking sale that satisfied both the vendor and purchaser. 
This marks Talbot’s third sale in the suburb over the past two months.
He also recently sold the two-storey café and dwelling building at 305 Bay Street, adjacent to North Brighton Station, at auction on a 3.3% yield for $2.255 million, setting a new benchmark price for a single-front retail property on Bay Street. 
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Brighton retail property sells on record yield of 1.6 percent

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Victoria had three office sales in the first quarter of 2017 for a combined total of $730.5 million dollars, with New South Wales nine sales for a total of $605.8 million according to the Quarter Times National Office report from Savills.
Some 14 leases were signed in Victoria and Queensland during that time and 13 in New South Wales.
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 Office sales in the North Shore of Sydney totalled $446 million in the first quarter, wth Macquarie Park $120 million and the CBD at $9 million.
Sales in the Canberra suburb of Civic came to $321 million and the Brisbane fringe $205.5 million. 
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Q1 office sales in Victoria total over $730 million: Savills

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Aventus Property Group has purchased Home Hub Castle Hill and Home Hub Marsden Park for $436 million, beating off competition from Gerry Harvey to buy the two centres.
The sale represents a weighted average capitalisation rate of 5.6 percent.
Home Hub Castle Hill was purchased for $336 million at a fully leased yield of 5.50 percent and Home Hub Marsden Park for $100 million at a fully leased yield of 6.00 percent.
Simon Rooney, JLL’s head of retail investments, Australasia, said there is a very limited number of major, core assets in the LFR sector across Sydney, so these presented a rare opportunity to acquire significant scale in the sector.
"The sale of Home Hub Castle Hill and Home Hub Marsden Park was the largest homemaker transaction in Australia’s history," he said.
“The yield achieved resets the benchmark for premium large-format retail assets and represents a new record low for the sector.
"For this particular transaction, investors were forward buying growth by pricing in the potential for strong cash flow and rental uplifts.
"The fundamentals of both assets are well supported by population growth in each catchment of 1.8 percent for Castle Hill and 2.1 percent for Marsden Park, said Rooney.
The portfolio was marketed by JLL in conjunction with McVay Real Estate on behalf of LaSalle Funds Management Limited.
Home Hub Castle Hill features a total of 52,004 sqm built over two multi-level centres and includes parking for 1,490 cars on a combined site area of 59,820 sqm.
Tenants include The Good Guys, Nick Scali, JB Hi-Fi, Harvey Norman, Officeworks, Toy ‘R’ Us &amp; Babies ‘R’ Us, Domayne and Freedom, and 64 specialty retailers.
Home Hub Marsden Park is on 19,832.6 sqm, with parking for 451 cars and a site area of 39,900 sqm. It is securely leased with long-term tenure to JB Hi–Fi Home and The Good Guys and features 22 large format and 10 food-based retailers on ground and 7 tenancies on an upper level.
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$436 million sale of Home Hub Castle Hill and Marsden Park

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Redevelopment of the Maroochydore CBD on Queensland's Sunshine Coast is driving local commercial property sales.
Emily Pendleton from Ray White Commercial North Coast Central said Maroochydore is being fast tracked to become the business, community and employment hub of the Sunshine Coast.
"The new Maroochydore City Centre will be instrumental in building and strengthening the region, providing a mix of residential, commercial, retail, civic and community uses to develop a thriving and vibrant business district and city centre,” she said.
“Any property around the new Maroochydore City Centre is getting serious attention from both owner occupiers and investors.
“There is a real hype around the immediate precinct including Maud Street, Sugar Road and Norval Court, which is exciting to see."
She said the $390,000 sale of a tenanted commercial investment property at 13/12 Norval Court, Maroochydore, for a 7.0 per cent yield highlighted the impact of the new city centre.
“This 146 sqm property has a long-term tenant in Phoenix Yoga Studio and my colleague Tamara Thorogood and I sold it to a local investor after less than three weeks on the market,” she said.
“The Norval Ct property we sold is close to the SunCentral CBD rejuvenation project.“
Construction has commenced on the Maroochydore City Centre, slated to deliver 215,000 sqm of commercial and retail space and provide more than 30,000 new jobs.
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Maroochydore CBD redevelopment luring commercial investors

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An 88 square metre strata titled retail investment in the Maroochydore CBD has sold for $423,000 to a local investor.
The property at Unit 4, 31-33 Plaza Parade sold for a current net yield of 6.43 percent on passing income.
Will Carman and Peter Capps of Savills said the property sold within a week of its campaign starting via an offers to purchase campaign.
The property had previously sold in November 2016 for $385,000.
Capps said the owner deciding to put the space back on the market when other opportunities took priority.
“Also of great appeal to investors was the location of the property, on Plaza Parade, and the fact it now  provides easy access to the Sunshine Coast Motorway, north and south, and into the Maroochydore CBD via Maroochy Boulevard.”
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Maroochydore Sunshine Coast strata titled retail investment sold

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Investing in commercial property is alluring, especially when you see advertisements on websites or at auctions of properties that yield 6-8 percent or even more.
Especially at a time when yields on residential properties are hovering at 3-4 percent or lower.
But beware of the traps; with a potentially higher reward come greater risks which is usually in the form of higher vacancy rates.
Commercial property can usually be classified into retail, industrial or office. Each has its pros and cons, but no matter what type, some rules apply to all or most.
According to Angus Raine, executive chairman of the Raine &amp; Horne Group, commercial property is a natural investment 'stepping stone' from residential property and a great way to diversify one’s portfolio, create tax benefits and build wealth.
"It's a more sophisticated form of investing," he was cited as saying by the Australian Financial Review. 
"However like any asset class, there are risks.
"So aspiring investors should take the time to do plenty of research, seek advice from experts and understand the pros and cons."
The first step to investing in commercial property is to take stock of the risks.
First, finding a new lessee can take time. It’s no good buying a vacant office space at a bargain when you can’t find a tenant for months.
Once a tenant moves out, it can take months or even more than a year to find a new one. On the other hand, finding a tenant for an apartment you want to rent out is generally a matter of weeks.
If the sole tenant of your property has to close due to financial problems, it could mean tough times for you. 
If you want to avoid those traps, Fred Nucara, director at Melbourne-based agent, Beller Commercial, has some advice. 
Investors would do well to position their property differently in the market, he told Fairfax Media.
"You might offer the first month of every year after they renew rent-free or offer them $5000 to help them set up their business," he suggested.
He also suggested to ramp up the property’s presence on the internet so it appears high on searches. That way, one can get a good number of enquiries.
Putting up ads in publications that will attract suitable tenants, such as cafe premises in Epicure magazine or a medical facility in a medical journal. 
He has a word of advice for first-time commercial property investors who buy into a vacant property. 
"I would not recommend it to first-time investors," he adds.
"We advise our clients to get something that is leased, that has cash flow so you can get a sense of the temperament of the tenant over time and their ability to pay the rent.
"That way an investor can develop confidence and understanding about the sector."
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The top risks of investing in commercial property: Angus Raine

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St Leonards continues to experience office erosion as stock continues to be earmarked for residential conversion, according to Colliers International’s latest Metro Office report.
“In the last six months, St Leonard’s vacancy has increased from 8.5 percent to 10.5 percent in January 2017 as tenants relocate to other metro markets.
"As previously mentioned, Jacobs relocated from 100 Christie Street to North Sydney, adding a contraction of just over 7,000sqm, Flexirent downsized 4,100sqm and 2UE vacated 170 Pacific Highway handing back 1,094sqm of space.
"These tenant moves contributed to a total six month net absorption of -22,878sqm,” the report stated.
Despite vacancy increases there is a strong prospect of a stronger residential market Colliers says.
“18,489sqm was withdrawn in the six months to January 2017 with a further 30,000sqm due to come offline in 2017, 18,500sqm of which will be redeveloped into a mixed use precinct (88 Christie Street).
"The next supply cycle will commence in 2019 with Royal North Shore Hospital fully committing to a 36,000sqm office development as well as Mirvac’s 472 Pacific Highway (4,600sqm).
"Mooted schemes are Gore Hill Technology Park (46,000sqm) and 18-20 Atchison Street (2,300sqm).
"Despite the increase in vacancy, the prospect of a stronger residential market encroaching on existing buildings and development space saw net face rents increase 21.5 per cent and incentives fall two percentage points in the last 12 months, with positive net effective rental growth expected to continue over the remainder of 2017,” the report advised.
A 144 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-st+leonards-501981146">St Leonards</a> (above) has been listed for sale.
Similarly a 67 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-st+leonards-502235646">St Leonards</a> (below) has been listed for $425,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/St%20Leonards-2.jpg" alt="">
A 96 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-st+leonards-502146674">51/6-8 Herbert Street</a>, St Leonards (below) was sold in April.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/516-8%20Herbert%20Street.jpg" alt="">
Similarly a 4605 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-st+leonards-501551463">2 Chandos Street</a>, St Leonards (below) was sold in April.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/2%20Chandos%20Street.jpg" alt="">
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Office erosion in St Leonards continues: Colliers

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Moving into 2017, the Gold Coast commercial property has continued to reflect strong market conditions, say valuation firm Herron Todd White in their April report which also sees Gold Coast approaching the peak of market position. 
Recently released PCA data indicates the across market vacancy level at January 2017 was 12.2 percent. This is down from 14.3 percent in July 2016 and 13.2 percent in January 2016.
Continuing the trend over the past several years, we are unaware of any planned new office buildings for 2017 apart from some smaller developments in areas such as Ashmore Road, Benowa targeting the medical sector. On this basis, the vacancy level on the Gold Coast is anticipated to improve (reduce) further moving forward. 
Sale transactions to date in 2017 suggest continuing robust interest. An example of this is the now publicly reported sale of 183 Varsity Parade, Varsity Lakes for $11.8 million. This is a 32.5 percent increase on the previous sale in December 2014 at $8.9 million.
The property has been purchased by the Clarence Property Group, a long term participant in the Gold Coast commercial market and in particular the office sector over the past few years. This two-level building of 3,153 square metres is reportedly fully leased, although net income and yield have not been disclosed. The sale reflects $3,742 per square metre on lettable area. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/21/HTWGoldCoast.jpg" alt="">
At the other end of the spectrum is 19-21 Gardenia Grove, Burleigh Heads, which settled last month for $2.9 million. This is a converted squash centre in a beachside location providing 1,061 square metres of net lettable area. It is also fully leased, but shows a low WALE of two years. The sale reflects $2,733 per square metre and a passing yield of 7.94 percent. 
“We note there are several other commercial office buildings currently listed for sale which we anticipate when sold will demonstrate yields at or possibly 25 basis points lower than 2016.”
Of particular interest will be how the market place perceives the expansive Bundall Corporate Centre, which has an EOI campaign closing 23 March 2017. This property comprises two existing office building with 21,111 square metres of lettable area, but with a further 15,500 square metres of developable land that could provide an array of opportunities for further office space, retailing, residential apartments or combinations thereof. This is a large, commercial property ticket item for the Gold Coast, having sold in the past a couple of times pre-GFC at circa $100 million and then post-GFC at circa $60 million. 
In respect to the office rental sector, commercial agents are also reporting good conditions with reported uplift in enquiries, uplift in rental levels and stabilisation or reduction in the level of incentives. 
Typically, rental rates for A grade stock ranges between $450 and $500 per square metre gross plus car parking; B grade stock between $350 and $450 per square metre gross plus car parking, whilst C and D grade stock ranges between $225 and $300 per square metre plus car parking. Incentives would now be expected to represent circa 7 percent to 8 percent of lease term rental. 
The Gold Coast strata office market has also continued on its reasonably strong path into 2017, again buoyed by owner-occupiers taking advantage of the low interest rate environment. Value rates exhibited by good quality strata office space on the Gold Coast typically reflect between $3,500 and $4,500 per square metre inclusive of car parking and between $2,000 and $3,500 for secondary stock depending on size, location and physical attributes. These are similar levels to 2015, although the median rate in each category has probably increased circa 5 percent. 
“Moving through 2017, we would expect the buoyant conditions to be maintained on the back of sustained low interest rates and ongoing benefit of planned infrastructure associated with the Commonwealth Games in 2018.” 
“However, we do have reservations that the market is becoming over heated.” 
Further, global conditions, including a change of President in the US and the possibility of diplomatic tensions moving forward could have implications for the Australian property market overall, conclude HTW.
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Gold Coast office market robust: HTW 

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Retail giant Amazon’s entry into Sydney may not be all that smooth, as its huge operational requirements may be difficult to manage initially, at least.
Amazon’s value proposition combined with its need for immense space may make it difficult to find a suitable base within Sydney, says a new report from Colliers International.
The report studied Amazon’s footprint in other global markets to determine how the online retailer would make its mark on the Sydney industrial market.
The sheer volume required by Amazon, combined with the need to deliver produce within an extremely short time-frame, means that it may struggle to find a space that meets its needs within the inner-Sydney ring, it said. 
“Amazon’s value proposition lies in its ability to offer an extensive range of consumer products at low prices by providing a unique customers experience which is dependent on delivering goods with speed, elasticity and mobility,’ said Colliers International research manager, Sass J-Baleh.
To fulfil their value proposition, Amazon’s key activity boils down to its logistics and distribution process – it requires a sufficient supply chain management. This means Amazon’s key resource is its Transit Warehouses/ Fulfilment centres, which typically occupy 100,000 sqm of space.
The report found that Amazon’s Fulfilment Centres (FCs), which is where a large majority of the goods are packed and distributed, are typically 100,000 sqm, with a global average of 64,000 sqm.
The company also relies on Fresh Food Distribution Centres, Regional Sortation Centres, Delivery Stations and Prime Now Hubs which typically occupy an average of 40,000 sqm, 30,000 sqm, 10,000 sqm and 6,000 sqm respectively.
Amazon currently operates in 14 countries and has 393 active facilities with a combined facility space of 13 million sqm. 
The Colliers report draws parallels with Canada and certain other countries to identify how Amazon might operate in Australia. 
“Canada is a country with a population greater than that of Australia, and they have only established six facilities with the population distribution concentrated into a small number of cities,” J-Baleh said.
“We already know that Amazon has recently secured one of its purpose-built FCs at Eastern Creek within Sydney’s Outer West sub-market, that is around 100,000 sqm.”
“This is advantageous as it is adjacent to the Sydney Orbital Network, providing direct access to a large share of the NSW market.”
“However, with over 64 percent of the total NSW population currently concentrated within the Sydney Metropolitan, Amazon may struggle to find facilities which will allow them to adhere to their 1-2 hour delivery time within this area.”
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Amazon faces tough entrance to the Australian market

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The historic Grand Hotel Melbourne has been officially rebranded as a Quest property, as the group targets more business travellers. 
The 33 Spencer Street property offers business and leisure travellers 95 studio, one and two-bedroom apartment style accommodation options along with 4.5 star comforts.
The heritage-listed property was originally built in the 1880s as the Victorian Railways Administration offices, due to its proximity to Spencer Street and Flinders Street Stations.
The building in Melbourne’s CBD was acquired in the early 1990s and converted into a luxury hotel.
Quest Apartment Hotels group CEO Zed Sanjana said the hotel is a “great asset to the Quest network”.
He said the property strong appeals to Quest’s core target customer, the extended stay business traveller.
The Melbourne icon has been cleverly transformed, and caters to the accommodation needs of short or long stay business travellers, he added.
“The prime location on the corner of Spencer and Flinders Streets positions Quest Grand Hotel Melbourne very favourably for business travellers to Melbourne’s CBD.”
Beyond its majestic façade, the building offers top quality amenities, a unique spaciousness and an ambience of grandeur attributable to the Victorian era.
Guest facilities at Quest Grand Hotel Melbourne include an on-site restaurant and bar, valet parking, indoor swimming pool, spa, gym, outdoor BBQ and garden area, and a meeting room facility for up to 50 delegates.
Quest Grand Hotel Melbourne is Quest’s eighth property in Melbourne’s CBD and the 54th Quest property in Victoria.
The Melbourne Convention and Exhibition Centre, Crown Entertainment Complex, Docklands and Melbourne’s legal and finance precincts are all close to the hotel.
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